Ain't Nothing To Think About $XTZ $XTZUSD #Tezos #Crypto
Looking at our highest timeframe we see the price continuing to respect our uptrend, however, we are seeing some bearish price action. Stochastic RSI showing momentum in favor of the bears and we could continue to see a sell-off towards $2.20. A look at our smaller timeframes will give us a better look.
Shifting over to our pattern timeframe we see the price respecting our major support level at $2.60, followed by the beginning of a bounce. Stochastic RSI showing momentum in favor of the bears, however, we are seeing some early signs of a reversal. A 4hour close above $2.75 is a good sign XTZ will continue up from this level to our next resistance at $2.90. A rejection from $2.75 and expect Tezos to continue selling off towards $2.20
Looking at our accumulation we can see our uptrend is being respected and it is forming an ascending pendant, expecting a breakout towards the upside.
